stockmarketwalk The Turkish banks are doing serious developments on MIR card to adopt it smoothly. According to BBC Turkish, the Türkiye’s government says the development and the ruble-based payments will be a source of financial support for both Russia and Turkey and will be
relief for both Russian tourists and Turkey
Additionally, the two leaders agreed to speed up the cooperation in agriculture, transport, construction industries and begin paying partial payment in rubles for deliveries of natural gas.
While Türkiye opposes Russia’s invasion of Ukraine, it has refrained from joining US and European sanctions against Russia. Türkiye continues to import energy, Russia supplied 45 % of its natural gas consumption last year.
Russia has also provided major foreign-exchange liquidity to Türkiye, transferring billions of dollars to a Türkiye-based subsidiary of Rosatom for completion of a nuclear power plant’s construction.
The Akkuyu nuclear plant is the center of controversy, neither Turkey nor Russia would accept a delay on the completion of the plant, Erdoğan said.
Türkiye maintains good relations with both Ukraine and Russia, also try to mediate in ending the military conflict. Turkish ministries keep working to make an agreement on grain exports with Russia, Erdoğan said.
Major progress can be seen in the shipment of grain, Ukraine made its first shipment in August since the Russian invasion after scores of ships were stuck in ports along the Black Sea. Ukraine is a major grain exporter in the primary destinations Egypt, Indonesia, Turkey, Pakistan, and Bangladesh.
Key takeaways
- Five Turkish banks are adopting Russian Mir payment system
- any delay in completion of a nuclear power plant’s construction is not acceptable
- Ukraine made its first shipment of grace in August
